Bhuvan P Batra

On a life long learning journey.
Batra Hedge
Batra Agarwood LLP

[Bhuvan P Batra @bhuvanbatra]

असंशयं महाबाहो मनो दुर्निग्रहं चलम्। अभ्यासेन तु कौन्तेय वैराग्येण च गृह्यते॥

asaṁśayaṁ mahā-bāho mano durnigrahaṁ calam, abhyāsena tu kaunteya vairāgyeṇa ca gṛhyate
Gita 6.35: "Without doubt the mind is restless and hard to curb, but through practice and detachment it is restrained."

Discipline is not a trait you are born with. It is a behavior you rehearse until it holds under stress.

The investing translation: Behavioral edge is built, not assumed. Pre-committed sizing rules, written exit criteria and a fixed review cadence (practice), plus not marking your identity to the daily P&L (detachment), are what stop a restless mind from overtrading and abandoning a thesis at the worst point in a drawdown.

Every fund has a risk model. Fewer have a process for the person running it →

Suggested best posting time: 8:30 AM ET.

[Bhuvan P Batra @bhuvanbatra]

Won the chess tournament @avadhutopia by wining 5/5 games through 2-4th Oct 2026.

Did you know Batra Hedge’s logo is inspired by Chess? ♟️

The philosophy
In chess, you don't win by making one brilliant move.
You win by thinking ahead, managing risk, understanding your opponent and staying patient.

Investing
Every position is a decision.
Every move has a consequence.
And sometimes, the best move is to do nothing.

The brand
♟️ Chess inspired the logo.
📈 Markets inspired the business.
🧠 Strategy connects both.
Batra Hedge — Think beyond the next move.

[Bhuvan P Batra @bhuvanbatra]

मात्रास्पर्शास्तु कौन्तेय शीतोष्णसुखदुःखदाः। आगमापायिनोऽनित्यास्तांस्तितिक्षस्व भारत॥

mātrā-sparśās tu kaunteya śītoṣṇa-sukha-duḥkha-dāḥ, āgamāpāyino 'nityās tāṁs titikṣasva bhārata
Gita 2.14: "They come and go and are impermanent. Endure them."
Heat and cold, gain and loss — every one of them arrives, and every one of them leaves.

The investing translation: A drawdown is a sensation, not a verdict; the manager who can sit through the swing without flinching is the one still solvent to compound on the other side.

The market's job is to test your tolerance, not your thesis →

[Bhuvan P Batra @bhuvanbatra]

कर्मण्येवाधिकारस्ते मा फलेषु कदाचन। मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि॥

karmaṇy-evādhikāras te mā phaleṣu kadācana, mā karma-phala-hetur bhūr mā te saṅgo 'stv akarmaṇi
Gita 2.47: "You have a right to your actions alone, never to their fruits."

You own the decision. The market owns the outcome.

The investing translation: A position sized correctly on a well-researched thesis is a good decision even when it loses, so judge your book by the quality of its process, not by one quarter's mark-to-market.

The fund that grades itself on process outlasts the one that grades itself on P&L →

[Bhuvan P Batra @bhuvanbatra]

यद्यदाचरति श्रेष्ठस्तत्तदेवेतरो जनः। स यत्प्रमाणं कुरुते लोकस्तदनुवर्तते॥

yad yad ācarati śreṣṭhas tat tad evetaro janaḥ, sa yat pramāṇaṁ kurute lokas tad anuvartate
Gita 3.21: "Whatever a great person does, others follow; the standard they set, the world pursues."

Price leads, narrative follows, and the crowd follows both.

The investing translation: markets are reflexive — flows chase flows, a marquee name's position becomes a crowd's thesis, and the crowded trade's exit door shrinks as it fills, so size positions for the unwind, not the consensus.

Know whether you are setting the standard or just following it →

[Bhuvan P Batra @bhuvanbatra]

Promote:
Entrepreneurship

The rate at which Silicon Valley experiment, fail & relearn is still a lot higher than India.

Right incentive structure can algin things fast.

[Patterns @Patterns0001]

India can grow at over 10%

— Nirmala Sitharaman

[Bhuvan P Batra @bhuvanbatra]

देवान्भावयतानेन ते देवा भावयन्तु वः। परस्परं भावयन्तः श्रेयः परमवाप्स्यथ॥

devān bhāvayatānena te devā bhāvayantu vaḥ, parasparaṁ bhāvayantaḥ śreyaḥ param avāpsyatha
Gita 3.11: "By nourishing one another, you will attain the highest good."

Success moves away from those who try to capture it, and toward those who help others achieve it.

The investing translation: the best capital partnerships are positive-sum — align incentives with LPs, co-investors and management, and the returns take care of themselves.

Build for the people on the other side of the table →

[Bhuvan P Batra @bhuvanbatra]

कर्मण्यकर्म यः पश्येदकर्मणि च कर्म यः। स बुद्धिमान्मनुष्येषु स युक्तः कृत्स्नकर्मकृत्॥

karmaṇy akarma yaḥ paśyed akarmaṇi ca karma yaḥ, sa buddhimān manuṣyeṣu sa yuktaḥ kṛtsna-karma-kṛt
Gita 4.18: "One who sees inaction in action, and action in inaction, is wise among men."
The busiest book is rarely the best one.

The investing translation: holding cash and declining low-conviction setups is an active choice in its own right, with a known opportunity cost and a real option value, while constant turnover is often just activity dressed up as a process.

The hardest trade to make is the one you don't →

[Bhuvan P Batra @bhuvanbatra]

The regulatory risk in business is real.
What happened in Policybzr can literally happen in a lot of fintech companies.

[Bhuvan P Batra @bhuvanbatra]

अशोच्यानन्वशोचस्त्वं प्रज्ञावादांश्च भाषसे। गतासूनगतासूंश्च नानुशोचन्ति पण्डिताः॥

aśocyān anvaśocas tvaṁ prajñā-vādāṁś ca bhāṣase, gatāsūn agatāsūṁś ca nānuśocanti paṇḍitāḥ
Gita 2.11: "The wise mourn neither the living nor the dead."

The market does not know your entry price.

The investing translation: a position should be judged only on its forward expected return and current thesis, never on its cost basis, because anchoring to a sunk loss is how a small drawdown turns into a permanent impairment.

The most expensive words in a portfolio: "I'll sell when it gets back to even" →

[Bhuvan P Batra @bhuvanbatra]

Lakshmi goes where it grows & feels safe.

You know where Lakshmi has grown in last couple of years.

[🚨Indian Gems @IndianGems_]

"Indians have accumulated huge wealth in gold which stores value rather than funding businesses or infrastructure. Need to Shift more household gold into productive assets."

— Uday kotak, CEO Kotak

[Bhuvan P Batra @bhuvanbatra]

सक्ताः कर्मण्यविद्वांसो यथा कुर्वन्ति भारत। कुर्याद्विद्वांस्तथासक्तश्चिकीर्षुर्लोकसंग्रहम्॥

saktāḥ karmaṇy avidvāṁso yathā kurvanti bhārata, kuryād vidvāṁs tathāsaktaś cikīrṣur loka-saṅgraham
Gita 3.25: "As the ignorant act with attachment, so should the wise act without attachment."
The best investors work as hard as the crowd. They just don't fall in love.

The investing translation: Put full effort into the research, then set exit criteria before you buy, so the endowment effect never gets to decide your position size.

Intensity without ownership is the rarest edge in markets →

[Bhuvan P Batra @bhuvanbatra]

Indian Fund managers promoting Global investing.
Global fund managers promoting Indian investing :)

[Shashank Mattoo @MattooShashank]

NEW: My guess is India's economy will be three times its current size if we meet again in 10 years, says JP Morgan CEO Jamie Dimon

[Bhuvan P Batra @bhuvanbatra]

Poker is a better comparison to the market.

Old article
https://t.co/tiFBl1u1I1

[Mark Minervini @markminervini]

Chess is a terrible comparison to the stock market. Chess is a closed system with defined rules, complete information, and—given a position—an objectively best move.
Markets are nothing like that. They’re dynamic, probabilistic, adaptive, and driven by constantly changing variables and human emotions and behavior.
Anyone using chess as proof that AI can simply “solve” the market fundamentally misunderstands markets and market efficiency.
AI is an incredibly powerful tool—but it is not a strategy, and it is not a substitute for judgment.
At Minervini Markets, we use some of the most sophisticated AI tools and programming available. But we use AI for what it is: an assistant that enhances research, analysis, and decision-making—not the final arbiter.
The edge isn’t AI.

[Bhuvan P Batra @bhuvanbatra]

नासतो विद्यते भावो नाभावो विद्यते सतः। उभयोरपि दृष्टोऽन्तस्त्वनयोस्तत्त्वदर्शिभिः॥

nāsato vidyate bhāvo nābhāvo vidyate sataḥ, ubhayor api dṛṣṭo 'ntas tv anayos tattva-darśibhiḥ
Gita 2.16: "The unreal has no being; the real never ceases to be. Seers of truth have seen the end of both."
Krishna is drawing a line between what merely appears and what actually is.

The investing translation: intrinsic value persists through cycles while hype and narrative momentum eventually collapse to zero — the work of fundamental analysis is learning to tell the two apart before the market does.

Most portfolios aren't destroyed by bad luck. They're destroyed by mistaking noise for signal →

[Bhuvan P Batra @bhuvanbatra]

Remove STT
Won't take year end for #nifty to reach 27000

[Bhuvan P Batra @bhuvanbatra]

यतो यतो निश्चरति मनश्चञ्चलमस्थिरम्। ततस्ततो नियम्यैतदात्मन्येव वशं नयेत्॥

yato yato niścarati manaś cañcalam asthiram, tatas tato niyamyaitad ātmany eva vaśaṁ nayet
Gita 6.26: "Whenever the restless, unsteady mind wanders, restrain it and bring it back under control."
The mind will always drift toward the noise. The work is bringing it back.

The investing translation: Every ping, tip, and green candle pulls attention off your thesis — edge is the discipline of returning to your written plan and position limits, over and over, not the fantasy of never being tempted.

The screen isn't your process. Your process is. →

[Bhuvan P Batra @bhuvanbatra]

न हि ज्ञानेन सदृशं पवित्रमिह विद्यते। तत्स्वयं योगसंसिद्धः कालेनात्मनि विन्दति॥

na hi jñānena sadṛśaṁ pavitram iha vidyate, tat svayaṁ yoga-saṁsiddhaḥ kālenātmani vindati
Gita 4.38: "Nothing in this world purifies like knowledge."
Tips decay in a day. Understanding compounds for a decade.

The investing translation: your only durable edge is proprietary research — depth of understanding that lets you size with conviction and hold through noise while the crowd trades on headlines.

The market pays for what you truly understand, not what you merely heard →

[Bhuvan P Batra @bhuvanbatra]

बन्धुरात्मात्मनस्तस्य येनात्मैवात्मना जितः। अनात्मनस्तु शत्रुत्वे वर्तेतात्मैव शत्रुवत्॥

bandhur ātmātmanas tasya yenātmaivātmanā jitaḥ, anātmanas tu śatrutve vartetātmaiva śatru-vat
Gita 6.6: "For one who has conquered himself, the self is a friend; for one who has not, it behaves as an enemy."
The market rarely ruins you. You do.

The investing translation: Your edge is not the model or the tip — it is whether you can override your own greed, fear and ego at the moment of decision. A mastered mind sizes right and waits; an unmastered one revenge-trades and over-levers.

The best position you'll ever manage is yourself →

[Bhuvan P Batra @bhuvanbatra]

Honestly, Indian markets framework is not competitive globally in :
1.) Taxation ( double taxation)
2.) Margins ( In US VAR is required, here we have span & exposure margin)
3.) The regulatory landscape is all grey

A lot of improvement need to done

[RedboxGlobal India @REDBOXINDIA]

GOVT COLLECTS 42000 CR STT FROM APRIL 1 TO SEP 17

STT COLLECTION UP 52.9%